| More and more people are attempting to sell their | | | | that's a commuting destination for your |
| homes themselves. Some are successful. Some | | | | community (if there is one)? |
| are not. Is there a way to predict your chances | | | | If you can handle the cost of a reasonable |
| of success? | | | | marketing campaign in your part of the country, |
| Yes, and we'll look at some ideas here that will | | | | that's another asset in favor of selling your home |
| help you decide whether you're likely to be one of | | | | yourself. |
| the successes if you take on the project (and it | | | | While we're on the subject of money, here's an |
| IS a project) of selling your own home. | | | | odd one. It is possible to make too much money |
| First, how much business experience have you | | | | for it to make sense to sell your home yourself. |
| had? Have you bought and sold homes before? | | | | Sounds odd, doesn't it? The point is, if you make |
| The more experience in these areas, the better | | | | more money doing whatever you do to earn it |
| off you are. | | | | than you'd spend paying a realtor, you're better |
| Do you enjoy the decision making process | | | | off financially to spend your time "doing your |
| (gathering information, weighing pros and cons, | | | | thing," and hiring a realtor to take care of the |
| coming to a conclusion)? Do you feel competent | | | | sales effort. Make sense? |
| and confident in this area? You need this ability in | | | | Do you have, or have access to, some technical |
| order to sell your home. | | | | tools and know how? A digital camera (photos for |
| Do you have time to devote to evaluating where | | | | the internet, brochures, flyers), a printer, an |
| you should set the asking price (not just what | | | | individualized answering machine message (to add |
| you WANT, but what it's logical to expect to | | | | info about your home sale) are enormously useful |
| GET), preparing your home to "show well" when | | | | and keep marketing costs down. The use of |
| you put it on the market (this step is needed | | | | these is a plus for selling success at reasonable |
| even if you work with a realtor), and developing | | | | cost. You can hire people to do the things you |
| and implementing a marketing plan? Time is a | | | | can do with them, but this raises marketing costs. |
| critical factor. Someone has to know how to do | | | | However, if you can afford it, that approach |
| these things and do them. Real estate doesn't sell | | | | works, too. |
| itself except in really hot markets. If you have | | | | If your answers to all, or most of these, |
| time to, you can learn how (lots of articles and | | | | questions are affirmative, you have a high |
| even some free "coaching" available on these | | | | likelihood of success in selling your own home. I |
| subjects). | | | | say this, not just "out of my hat," but because I |
| If your answer to the time question is "yes," | | | | had more than 20 years experience as a real |
| you're moving toward the likely to be a successful | | | | estate agent, then broker, "in a former life," and |
| FSBO (FOR SALE BY OWNER) column. | | | | for the last several years have worked at trying |
| Do you have some money to devote to | | | | to help FSBOs achieve success, so I've enjoyed a |
| marketing your home? It's wise to be on one or | | | | good, long view of what contributes to selling |
| more internet sites because most buyers begin | | | | success. |
| their searches there. Some of these sites are | | | | However, don't take my word for it. Put you own |
| free, or free for a period of time, and some cost | | | | evaluative skills to the question. Are the "needs" |
| money. (The pros and cons of which ones to | | | | mentioned likely to lead to success? Ask yourself, |
| choose is a whole separate subject.) | | | | do I recognize the truth here? If you do, and if |
| Can you afford to run a series of classified ads in | | | | you have what's needed, go for it. You'll probably |
| your local newspaper and a paper in a nearby city | | | | get exactly the result you want. |